EX-12 5 a2118821zex-12.htm EXHIBIT 12
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Exhibit 12


CompuDyne Corporation
Calculation of Earnings to Fixed Charges
(in thousands)

 
    
    
   For the Six Months
Ended June 30,
   For the Year
Ended December 31,
 
    
    
   2003
   2002
   2002
   2001
   2000
   1999
   1998
(1)   Earnings                                          
    Add:                                          
    (a)   pretax income from continuing operations, before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investee   $ 3,299   $ 2,406   $ 2,840   $ 5,724   $ 5,590   $ 4,259   $ 1,210
    (b)   fixed charges (line (2)(vi))     713     659     1,427     2,552     2,000     2,203     295
    (c)   amortization of capitalized interest     —     —     —     —     —     —     —
    (d)   distributed income of equity investee     —     —     23     75     —     —     —
    (e)   your share of pretax losses of equity investee for which charges arising from guarantees are included in fixed charges     —     —     —     —     —     —     —
           
 
 
 
 
 
 
    (i)   Total (a), (b), (c), (d) and (e)   $ 4,012   $ 3,065   $ 4,290   $ 8,351   $ 7,590   $ 6,462   $ 1,505

 
 
Subtract:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    (a)   interest capitalized     —     —     —     —     —     —     —
    (b)   preference security dividend requirements of consolidated subsidiaries     —     —     —     —     —     —     —
    (c)   minority interest in pre-tax income of subsidiaries that have not incurred fixed charges     —     —     —     —     —     —     —
    (ii)   Total (a), (b) and (c)     —     —     —     —     —     —     —
           
 
 
 
 
 
 
    (iii)   Total Earnings (i)-(ii)   $ 4,012   $ 3,065   $ 4,290   $ 8,351   $ 7,590   $ 6,462   $ 1,505

(2)
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    Sum of:                                          
    (a)   interest expensed and capitalized     606     582     1,271     2,462     1,994     2,202     295
    (b)   amortized premiums, discounts and capitalized expenses related to indebtedness:                                          
            PNC/LaSalle     101     72     145     84     —     —     —
            IRB     6     5     11     6     6     1     —
    (c)   estimate of interest within rental expense     —     —     —     —     —     —     —
    (d)   preference security dividend requirements of consolidated subsidiaries     —     —     —     —     —     —     —
           
 
 
 
 
 
 
    (iv)   Total (a), (b), (c) and (d)   $ 713   $ 659   $ 1,427   $ 2,552   $ 2,000   $ 2,203   $ 295
(3)   Ratio of (1)(iii) to (2)(iv)     5.63x     4.65x     3.01x     3.27x     3.80x     2.93x     5.10x


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CompuDyne Corporation Calculation of Earnings to Fixed Charges (in thousands)